In July 2024, the national tea sales average in Sri Lanka decreased by 1.5%, reaching Rs.1,223.88 (US $4.05) compared to Rs.1,243.69 (US $4.12) in June 2024, according to data from the Sri Lanka Tea Board.
Despite this month-on-month decline, the July 2024 average shows a positive year-on-year (YoY) variance of Rs.212.44 and US $0.87 compared to July 2023, when the average was Rs.1,011.44 (US $3.18).
An elevation-wise breakdown reveals:
- High Grown: An increase in the average price of Rs.20.38 and US $0.07 month-on-month, and a significant YoY rise of Rs.286.02 and US $1.09.
- Medium Grown: A decrease of Rs.16.65 and US $0.05 month-on-month, but a YoY increase of Rs.179.04 and US $0.74.
- Low Grown: A month-on-month decline of Rs.37.01 and US $0.12, with a YoY increase of Rs.191.81 and US $0.82.
Overall, all regions have recorded positive variances from January to July 2024 compared to the same period in 2023, in both Sri Lankan rupee and US dollar terms.